PBoC Gold Conduit Revealed—Chinese Central Bank Did Not Stop Buying Gold in May
This article is an analysis of how the Chinese central bank (PBoC) buys gold in London from Western bullion banks. Because the bullion banks take care of the gold transport for the PBoC, the shipments from London to Beijing are disclosed in UK customs data. The customs data reveals that the PBoC continued to buy gold in May—when it communicated to the market it discontinued buying—at a rate of 53 tonnes. The PBoC stated it stopped buying to dampen the gold price so it could acquire more gold.
https://www.thegoldobserver.com/p/pboc-gold-conduit-revealedchinese
Jan Gold / Jan Nieuwenhuijs
npub1w9…c2qj7
2024-08-01 14:58:51
Author Public Key
npub1w96qn2s9kwue99u2uspce2ytdg0560sgkku3m7j5dg828maeaxwqec2qj7Published at
2024-08-01 14:58:51Event JSON
{
"id": "d57901208758dcdbd98390f2b45cd6d8c7146e8b7c59db03950b8bf8263f4c42",
"pubkey": "717409aa05b3b992978ae4038ca88b6a1f4d3e08b5b91dfa546a0ea3efb9e99c",
"created_at": 1722524331,
"kind": 1,
"tags": [
[
"r",
"https://www.thegoldobserver.com/p/pboc-gold-conduit-revealedchinese"
]
],
"content": "PBoC Gold Conduit Revealed—Chinese Central Bank Did Not Stop Buying Gold in May\n\nThis article is an analysis of how the Chinese central bank (PBoC) buys gold in London from Western bullion banks. Because the bullion banks take care of the gold transport for the PBoC, the shipments from London to Beijing are disclosed in UK customs data. The customs data reveals that the PBoC continued to buy gold in May—when it communicated to the market it discontinued buying—at a rate of 53 tonnes. The PBoC stated it stopped buying to dampen the gold price so it could acquire more gold.\n\nhttps://www.thegoldobserver.com/p/pboc-gold-conduit-revealedchinese",
"sig": "878f3eafe19ae943283fcdd4334b972e6cdbd5d2b9eae0b869737c4ee60044bda6b45d5cfdd12fa9ab67f72a917c2a06c83cad18ee56b65ba5d5d7bd2f1c0f1f"
}